Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I own an insurance agency. and get 1099s from several different companies. But one or two of the companies are still making the 1099 forms out in my Social Securty number, instead of the EIN for my LLC.
How does this work? Can I still claim the income through the LLC on the (think its called) the K-1 form? Or does it need to be separate?
If it needs to be claimed on my personal (I believe its call) Schedule-C, can I still get the tax benefits of the income running through my LLC?
All of the income did actually run through the LLC.
Also, how does this affect my business partner? I only own 50% of the LLC, he owns the other 50%
Last edited by RedneckRebel; 02-01-2019 at 08:07 AM..
If the other member is your spouse, then I believe it is still okay. Otherwise you should request amended 1099 forms, and make sure to provide an updated W-9.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
